KUMUL PETROLEUM’S DEALINGS: BANKRUPTED A NATION AND BROUGHT DOWN A PRIME MINISTER
by REGINALD HAUREVA Reference a recent letter to the Editor of the Post Courier under the caption “Kumul Petroleum, Petronas in the making” published on June 12, 2019, authored by one “ BUSH COMMERCIAL LAWYER OF PORT MORESBY”. The timing of this letter is quite uncanny. It was obviously timed to pre-empt and cuff the hand of Hon. James Marape MP, the new Prime Minister, who is the trustee shareholder of Kumul Petroleum Holdings Limited and associated companies (“Kumul”). However, its timing betrays a tinge of fear our bush lawyer obviously harbours in the new government having its own ideas of just what role, if any, Kumul Board and its current CEO, Mr Wapu Sonk could play, in the greater campaign to take back PNG. For information of the Bush Lawyer, the Kumul Petroleum Trustee has the power to sack any or the entire Board(s) and the CEO, if he pleases. But that is too simplistic. The fact that someone high up in Kumul obviously prompted such a letter to be written is itself s